A big thank you / brief intro (perhaps not so brief)

[Gedge]

Good evening All,

I have been a long time lurker (must be years now) however have just established a posiiton where I am consistently (touch wood) in profit.

I really cannot thank the members of T2W enough for their contributions and for bringing me one step closer to the dream of working from home (one day perhaps from Costa Del Sol)!

BACKGROUND

I am from a legal background and my capital investment has been from a fairly successful career over the last ten years however I do not enjoy my day job and have for the past eight years or so been trying to become a profitable trader (last two years I have managed perhaps forty hours a week on charts + forum time, give or take). I generally clear my legal work over the weekend so that I can glue my eyes to the charts for as much of the week as is possible.

I have recently moved to London with my family to further my trading experience (Hampshire simply did not have the necessary bandwidth to scalp without at least one near heart attack a fortnight).

MY RECENT SUCCESS

I trade forex, mostly GBP/USD as I have been trying to fully understand one pair before moving on.

My strategies have varied (all taken from kind members of this site) with my first success approximately two years ago with the morning breakout netting me approximately 100pt profit per month on 0.5%; which, was approximately eight times my monthly salary.

Sadly success has been hit and miss since then with a mix of the three duck strategy and predomintly scalping. I have now managed a six month period of averaging 20pt per month which I consider a turning point in my career (my gross from trading has averaged my net salary from the day job). Sadly, my winnings are still a bit of a mess often holding positions far longer than I had hoped for to try and recover losses or, embarrassingly, predicting the breakout in the wrong direction(!).

I hope to continue my trading career with a goal of 100pts per week (seems like a millions miles from this yet) and hope to repay the members of T2W with any advice that I may naively have to offer.

Thank you again to all who have contributed and I am sorry to say that you may need to get use to my fairly dark sense of humour.

Dean

 

[EnlightenedJoe]

The trouble with t2w now is all money, money and no real content. I wonder what happened to those people who used to call out trades. At least then there was something related to trading. Now it'a all about generating ad revenue. Even the american forums are not like that.

 

[Gedge]

I am not here for a free ride, I would much rather the tools to establish the correct trade positions myself than rely on them being called (there are plenty of live trading rooms however I have never found one the I thought valuable enough to stay, possibly my inexperience more than anything else).

I still find a lot of useful content on t2w however the only change I have noticed has been an increase in posts/threads looking for a 'get rich quick' guide; still find plenty of gems but, again, a lot of this is new information to me.

Cheers,
Dean

 

[Trader333]

The trouble with t2w now is all money, money and no real content

So you joined this month and since then have decided there has been a step change in the content ?

 

[hhiusa]

I am not here for a free ride, I would much rather the tools to establish the correct trade positions myself than rely on them being called (there are plenty of live trading rooms however I have never found one the I thought valuable enough to stay, possibly my inexperience more than anything else).

I still find a lot of useful content on t2w however the only change I have noticed has been an increase in posts/threads looking for a 'get rich quick' guide; still find plenty of gems but, again, a lot of this is new information to me.

Cheers,
Dean

I have noticed an increase in the get rich quick threads that pop up like weeds. It is like whack-a-mole. You close one thread and 10 more take its place.

I do not mind advertisements on a website. It is necessary revenue source for some. I think it is a problem when those advertisements are for companies whose practices are unscrupulous. They take advantage of the young and inexperienced.

For example, some entice you with "no account minimums" but have exorbidant commissions. If you do not have $10,000 to open an account with IB, you are left with more snake oil salesmens brokers who charge £6 per side. If you cannot afford $10K, how are you going to afford paying £6 per side?

 

[timsk]

. . . I still find a lot of useful content on t2w however the only change I have noticed has been an increase in posts/threads looking for a 'get rich quick' guide; still find plenty of gems but, again, a lot of this is new information to me.

Hi Dean,
Welcome to posting on T2W.

The changes on T2W are - for the most part - natural and organic and due to old members moving on (for a variety of reasons) and new members joining - as opposed to any policy decisions on T2W's part. The rise in people looking to 'get rich quick' is, to a greater or lesser extent, a bye product of the Forex industry which is peddled to the retail market as being a fast track to near instant wealth. As you've discovered, that's a myth. As far as possible, T2W does not actively and directly endorse those who have a vested interest in forex, although I accept that indirectly we benefit from it through advertising. It boils down to where one draws a line in the sand. Certainly, you won't find posts either from admin' or from the Mods that actively promote forex as being 'the way'. In fact, I regularly question the wisdom and desire of new members' to jump on the forex bandwagon without first exploring all available options.

Anyway, that's a very brief history of where we are now and, IMO, why we're here. As for quality content, there's any amount of it to be found for those prepared to look for it. I'm glad you've found the site useful and appreciate you taking the time to post positive feedback. That's very rare and very welcome; thank you!

Tim.

 

[Gedge]

Sorry forgot to thank the staff that make it all possible! I have no misconception about difficulty however it is a damn sight less stressful than running a small business with staff etc! The dream is to work from home and securely (touch wood) support a family, my dreams of a Lamborghini are long buried now.

This summer, after work busy period, I will maintain a comprehensive journal that may help some members (perhaps in avoiding my mistakes, if nothing else), and; if I am lucky this will be the journal that transitions me from the grind to working from home!

Thanks again and if there is anything I can do then let me know.

Cheers,
Dean

 

[c6ackp]

So you joined this month and since then have decided there has been a step change in the content ?

I assumed that EnlightenedJoe is BeginnerJoe - just a bit older..?

 

[babyjake1961]

I would hate to have to trade for a living. For some extra profits (even very nice profits) - sure, but definitely not for a living.